Category: Business

Information regarding the business sector.

Newspaper La Razon fires 140 workers

With “La Razón”, Carlos Gill recognized in 2019 that his annual earnings were between 9 and 93 million Bolivians ($1.3mn and $13.6 mn). He owns the newspaper for more than a decade. If we take an average, we add in the end a probable accumulated of 500 million Bolivians ($71 million). One hundred forty ex-employees fired from “La Razón” are preparing to fight for their severance pay. Director Claudia Benavente decided to throw them out on the first day of July without severance pay. She used the perfect excuse: the COVID-19.

Accidental Tunari Association (AAT) denounces government debt of $42.56 mn

The Asociación Accidental Tunari (AAT), which is executing the Cochabamba Metropolitan Train project, reported that the government owes it nearly 297 million bolivianos ($42.67 mn) in payroll and almost eight million ($1.15 mn) in interest. Additionally to this amount, Bs 330.6 million ($47.5 mn) have not yet invoiced for the progress of work as of December 2019. The debt caused the contract of the consortium formed by the companies JOCA from Spain, Molinari from Switzerland and the Bolivian State to be suspended due to default.

Vinto looks for partner to pay off $80 mn debt

Empresa Metalúrgica Vinto could partner with an international mining company to pay off its debts for the Huanuni and Colquiri mines. The amount Vinto needs to meet obligations is $80 million, but initially the future partner will have to contribute $40 million.

BoA lost $28 million in 2019

The airline’s financial statements as of December 31, 2019, reflect a loss of $28 million, another $10 million was charged directly to the Accrual Account, with a combined effect of $40 million of decrease in the company’s equity. With the pandemic, the situation is more critical; the company has stopped receiving $60 million.

Tecnopor: sales dropped by 75%

Tecnopor SA, one of the country’s leading manufacturers of expanded polystyrene and pre-stressed beams, dismissed 52 of 72 workers from its La Paz branch. The company took this action because its sales fell by 75% due to the coronavirus pandemic.